The Real Deal New York

Icon Realty pays $27M for ex-Ring building from Extell

The vacant 12-story office building was one of the few Barnett still owned in portfolio
By Rich Bockmann | December 07, 2016 02:30PM

30 East 23rd Street and Gary Barnett

30 East 23rd Street and Gary Barnett

Terrence Lowenberg and Todd Cohen’s Icon Realty Management just picked up one of the former Ring portfolio buildings from Extell Development for $26.5 million.

Icon paid about $815 per square foot for the vacant 12-story, 32,500-square-foot office building at 30 East 23rd Street in the Flatiron District, property records filed with the city Tuesday show.

Representatives for Icon and Extell TRData LogoTINY couldn’t be reached for comment.

The 25-foot-wide building near Madison Square Park has small floor plates of roughly 2,500 square feet each.

The building is one of the few remaining properties Extell has held onto since snapping up the 14-building Ring portfolio in late 2013 for close to $450 million. Gary Barnett has sold off or ground leased most of the buildings.

Extell still owns 142 West 24th Street and 17 West 60th Street outright, and retains the fee position at 23 West 24th Street.